Eurozone Consumer Confidence Falls In December

The Euro seemed to take a hit in wake of the day and EUR/USD fell to session lows. The Eurozone Consumer Confidence index fell to -8.3 in December from -6.8 in November according to the flash estimate released by the European Commission on Tuesday. That was below expectations for a drop to -8.0.

The data to compile the index was collected in a survey conducted between December 1 to 20. The final estimate of December Consumer Confidence will be released on January 7.

As regards market reaction, the euro seems to have taken a slight hit in recent trade, with EUR/USD recently dipping to session lows in the 1.1260s from earlier highs above 1.1300.

The weakness of the Consumer Sentiment index likely reflects the impact of surging Omicron infection rates across the continent.